ValuEngine Downgrades WEC Energy Group (WEC) to Hold

WEC Energy Group (NYSE:WEC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities analysts also recently issued research reports about the company. Credit Suisse Group boosted their target price on WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Co boosted their target price on WEC Energy Group from $71.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Deutsche Bank boosted their target price on WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Citigroup set a $66.00 target price on WEC Energy Group and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Finally, Barclays began coverage on WEC Energy Group in a research report on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $70.27.

NYSE:WEC opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.44 and a current ratio of 0.51. WEC Energy Group has a 1 year low of $58.48 and a 1 year high of $72.09. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 4.60 and a beta of -0.03.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.82%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group will post 3.33 earnings per share for the current fiscal year.

In other WEC Energy Group news, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total value of $11,298,802.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Mn Services Vermogensbeheer B.V. grew its position in WEC Energy Group by 3.3% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 50,657 shares of the utilities provider’s stock valued at $3,382,000 after acquiring an additional 1,600 shares during the last quarter. HL Financial Services LLC grew its position in WEC Energy Group by 6.4% in the 3rd quarter. HL Financial Services LLC now owns 13,365 shares of the utilities provider’s stock valued at $892,000 after acquiring an additional 808 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in WEC Energy Group by 5.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 46,284 shares of the utilities provider’s stock valued at $3,090,000 after acquiring an additional 2,355 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in WEC Energy Group by 1.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 250,061 shares of the utilities provider’s stock valued at $16,694,000 after acquiring an additional 3,804 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in WEC Energy Group by 2.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 46,547 shares of the utilities provider’s stock valued at $3,107,000 after acquiring an additional 959 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Analyst Recommendations for WEC Energy Group (NYSE:WEC)

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